Mahindra & Mahindra posts 87% jump in vehicles sales to 29,852 units in Aug

Mahindra & Mahindra on Thursday reported an 87 per cent increase in domestic passenger vehicles sales at 29,852 units in August.

The company had sold 15,973 units in the same month last year, M&M said in a regulatory filing.

Sales of cars and vans were at 336 units in the month under review, up from 187 units in the year-ago month.

In the commercial vehicles segment, the company said it sold 21,492 vehicles in August 2022, as against 8,814 units in the same month last year.

M&M President, Automotive Division Veejay Nakra said the demand across the company's portfolio remained strong and new launches such as Scorpio-N, Scorpio Classic and new Bolero MaXX Pik-up also helped in driving growth.

"The supply chain situation continues to remain dynamic for select product lines and we are taking appropriate actions to minimize impact," he added.

In the tractors segment, M&M said total sales grew marginally to 21,520 units last month, as compared to 21,360 units in August 2021.

Domestic tractor sales were at 20,138 units as against 19,997 units in the year-ago month, while exports were at 1,382 units last month, as against 1,363 units in August 2021.

"We are optimistic that tractor purchases on auspicious days in the festive season will lead to revival in demand, as farmers start preparation for harvesting operations. We are preparing for strong tractor demand in the festive season," M&M President - Farm Equipment Sector Hemant Sikka said.